My-wardrobe.com’s first institutional investment

The industry is working overtime to get back on track and by the looks of it, efforts are paying off - at least for my-wardrobe.com. Balderton Capital, one of Europe’s leading venture capital firms, committed to a £6 million Series A investment in the UK

online retailer. This is the first institutional investment in the company and Balderton is joined by existing angel investors in this latest round of funding.

The online retailer of designer fashion launched in April 2006 and became one of the UK’s largest online shopping destinations. The fast growing e-commerce business received a 100% revenue growth in recent years. The site offers womenswear and menswear ranges from over 180 of the world’s leading designer brands including Polo Ralph Lauren, Anya Hindmarch, Mulberry, D&G, 3.1 Phillip Lim and By Malene Birger.

The development capital raised will enable the company to boost its growth trajectory by continuing to add premium brands and significantly enhance the product offer, customer experience and marketing channels while driving expansion into key international markets. my-wardrobe.com attracts over 800,000 visitors to the site every month, up 110 per cent from last year, and was the first e-tailer to launch click-to-buy video content with the award-winning my-tv. The company has 85 employees based across the central London and Nottingham offices.

London based Balderton Capital is committed to support talented entrepreneurs build successful companies. Balderton manages $1.9 billion in committed venture capital, invested across over 90 companies, principally in European countries, but also in the US and Asia.

Image: my-wardrobe.com